Sinopec’s Chemicals Segment Reports Huge Rise in Profits; PetroChina’s Chemicals Unit Records an Operating Profit

Sinopec’s chemicals segment reported a more than doubling in operating profits for the first nine months of 2011 compared with the year-ago period, to Rmb23.7 billion ($3.7 billion). Sales for the chemicals segment were not disclosed. Sinopec’s ethylene output rose 11.3% in the first nine months compared with the year-ago period, to 7.35 million m.t. Sinopec’s production of plastics increased 5.6% in the first nine months of 2011 compared with the year-ago period, to 10.06 million m.t; production of synthetic rubber increased 3.8%, to 746,000...

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